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Board/Management Relations
Come to Order!
If you’ve ever attended a meeting and witnessed
the group president call it into order, heard the secretary review the
minutes of the previous meeting, heard motions, seconds and then voted, you
have participated in parliamentary procedure. Very likely, you saw
something called Robert’s Rules of Order put into action — even
if you didn't realize it.
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The Co-op Manager Shortage
The horror stories abound: Ivy Leaguers flipping fries. Dot-com darlings begging for work. A six percent unemployment rate. It's no secret that the New York job market is in the intensive care unit right now. So then how is it possible that co-op management agencies are taking out full-page wanted ads and offering hefty signing bonuses for qualified (and sometimes even less-than-qualified) recruits? Read More
Board/Building Harmony
As an attorney who represents co-op boards, building managers and shareholders, one sometimes wonders if the expression—“ You can’t please all the people all of the time” best applies to the idea of creating harmony between these parties. However, I believe that there is hope and that you can try to please more of the people more of the time, if you just listen to what they are saying and respond promptly. Read More
Noise, Graffiti and a Greener Environment
In its last meeting of 2005, the New York City Council
enacted legislation to make the city a quieter, cleaner and more
environmentally-friendly place to live. Perhaps one of the major
initiatives sought by the mayor’s office was revising the
city’s 30-year old noise code. Honking horns, noisy refuse trucks,
construction clamor, boom boxes and car alarms are just some of the
undeniable facts of life in living in the city that never sleeps. However,
residents may sleep a little quieter when that outdoor noise, music and
even barking dogs are muzzled by new restrictions that carry fines ranging
from $50 to $8,000 depending on the nature of the offense.
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While You Were Out
Mel Garskof is thrilled about the lobby makeover that
will happen in the coming year at the Kips Bay area cooperative building
where he lives. The public halls will be renovated, including new wallpaper
and carpet, doors will be repainted, new molding will be applied and the
spacious lobby will be reconfigured to include mailboxes and additional
security measures.
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Strategies of Success
Property managers have a lot on their minds. There are
board meetings to attend, legal issues to wade through, phone calls to
return, emails to answer and a constant parade of maintenance issues to
contend with at any given time. The job is tough -- especially if the
person with the job is interested in going above and beyond the call of
duty. What are the qualities of a good property manager? And what makes a
good manager great?
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The Long and Short of It
Every co-op or condo community in New York City has its own personality and character, from the tiny 20-unit brownstone co-ops of the West Village to the towering modern high-rises of the Upper East Side. The wide range of sizes, demographics, expectations, and overall building personalities poses a special challenge to managing agents, whose portfolios might include both a 20-unit prewar and a 200-unit high-rise. Read More
Avoiding Management Mistakes
Mistakes happen - they're part of everybody's learning curve. There are plenty of opportunities to make mistakes in the course of running a residential building; in nearly three decades in the building operations field, I've both made and been witness to quite a few of them myself. The trick, however, is to minimize the impact of our mistakes and make sure we don't make the same one more than once. Below you'll find a short list of some of the mistakes I've seen happen again and again in buildings all over the city, along with tips on how to avoid such problems in your own building community. Read More
Disseminating Information
There's a lot of paperwork that's involved in running a co-op or condo building - everything from financial records to legal documents, shareholder correspondence and management statements from board meetings - and it's important that the documents are available to the board and shareholders when needed. While it's up to the managing agent to keep this material organized and secure, sometimes copies of the paperwork can also be found in the co-op office itself. Read More
The Debate Goes On
Six years ago, a scandal rocked the New York State real estate management industry for the second time in a decade. Thirty management company owners, agents and contractors were indicted for taking kickbacks for contract work at many New York City co-ops and condo buildings. Read More
Listen to This!
Just as the world is populated with both good and bad people, New York City is populated by some excellently run and well-organized co-op and condo boards, and some not so efficient. Making unpopular decisions doesn't necessarily mean a board is incompetent - virtually every decision made is going to have its detractors - but making popular decisions just to avoid controversy may not be in the best interests of the shareholders and the cooperative corporation either. Read More
Time for a Change?
Since management companies foster a competitive environment, co-op and condominium buildings expect a high level of service from their managing agent. However, when agents aren't showing the care and attention buildings deserve, or some sort of mismanagement is suspected, boards might very well decide it's time for a change. Read More
The Two-Way Street
The old adage that knowledge is power holds doubly true when it comes to assuring ethical conduct and adherence to bylaws by a governing board, regardless of the size of a community size or the severity of a given crisis. Read More
Chief Trailblazers
While other industries have been more difficult to penetrate, many areas of the fast-paced world of real estate have long been the professional domain of women. The past two decades have witnessed an influx of women as innovators in their fields, blazing a trail for women of today to follow in a competitive, high-stakes industry. The Cooperator spoke with a few of these industry pioneers about their roots, their work, and how they've successfully navigated the changing waters of New York real estate. Read More
Hands On or Off?
It pays to have a competent, active board at the helm of a building community - a strong, stable board translates to better value for shareholders. But just how hands-on should a board be? Sometimes the daily management of a co-op or condo is best left in the hands of a managing agent. However, other situations may require not only the board's involvement, but also that of outside legal counsel. Effective management ultimately comes down to teamwork and communication. Read More
Coming Clean
Two condos are the same price, in the same neighborhood, and are equally pleasing to the eye. What makes someone buy one and not the other? Amenities. One of the most important amenities for many homebuyers is an on-site laundry room. No one wants to drag three loads of socks, towels and unmentionables to the nearest laundromat every Saturday, then spend their afternoon sitting and waiting for a lukewarm dryer. To someone looking for convenience, an on-site laundry is a big plus - meaning that buildings that offer on-site laundry facilities are offering residents added value and convenience. And that's always a good thing. Read More
The Dream Team
Oftentimes, co-op shareholders forget that their building is not only a home, but also a business. And while running a home is a big responsibility in itself, with financial, legal, and managerial elements, running a cooperative corporation is even tougher. With most board members acting as volunteer directors who may or may not have inside knowledge of the day-to-day concerns facing their home/business, it's vital that every board has a team of skilled, competent professionals to help when things get complicated - and to try and avoid complication in the first place. Choosing such professionals to help guide your building is a tall order, but if you know what to look for, what questions to ask, and what you can and should expect from your hired pros, the task is a little less daunting. Read More
Stand in Judgment
Every home is an investment, but for co-op shareholders - and, to some extent, condominium unit owners - their home is also part of a business. As with any business, good management can make or break it and in a co-op or condominium, a big part of that management team is the building's board of directors. Like any corporation, the board has a fiduciary responsibility to shareholders to oversee building operations and finances. But when shareholders are also neighbors, and when quality of the living environment can be affected by the board's decisions, the stakes are high and board members must remember to keep a keen business sense and not be ruled by their personal feelings. Read More
Playing Nice
Some relationships seem destined for rocky paths. Brothers and sisters. Mothers-in-law and daughters-in-law. Sponsors and boards. Although certainly not all board and sponsor relationships travel the bumpy road, many do. Understanding the whys and hows behind that discord can go a long way toward preventing trouble - or mending fences and setting a smoother future course for relationships that already have gotten off to a poor start. Read More
From the Co-op to the Classroom
With today's ever-changing building codes, laws and technology, a managing agent's job is becoming more complex than it was several decades ago. Today's agent has a multitude of responsibilities, including supervision of all aspects of the building, managing contracts, budgets, tenant relations, and more. Read More
Keeping an Eye Out
New Yorkers have always been vigilant in keeping themselves and their apartments as secure as possible. The doorman, security guard, building superintendent or concierge is traditionally the first line of defense in controlling the cadre of visitors, residents, building staff and delivery people that routinely enter a co-op or condo building each day. But, especially in the aftermath of September 11th, building owners, managing agents and residents can no longer be complacent that an appropriate level of security is being provided. And how does one keep their building reasonably secure without installing the technological equivalent of Fort Knox? Read More
Can You Manage?
When the term "service provider" is used in reference to real estate, usually people take it to mean laundry facility or storage-locker companies, or maybe the firm that runs your building's in-house fitness center. The term isn't often applied to managing agents" although perhaps it should be. After all, your building's managing agent is the professional at the top of the pyramid when it comes to interacting directly with all those other professionals on behalf of your board and residents. Read More
Don't Be a Pest
Few things are more important for a building than having a competent managing agent willing to work closely with board members to make their home a safe, harmonious place to live. A big part of any good managing agent’s job is to be "on call" when emergencies arise, and to address board members’ concerns about their building. When board members show disrespect for their managing agent’s time and professional expertise, however–by calling them at home with problems that could be addressed the next business day, or constantly bothering them with minor concerns–they strain the relationship with their agent and hobble the agent’s ability to get things done. While it is crucial that board members feel free to talk to their managing agents to voice their questions and concerns, it’s also important for them to understand both the point at which constant phone calls become counterproductive, and the ways in which they can cultivate a positive relationship with their building manager. Read More
Keeping it Copacetic
All relationships–even the healthiest ones–need constant care and maintenance. Whether it’s person-to-person or business-to-client, relationships must be cultivated in order to thrive–a fact that holds doubly true for the crucial connection between co-op and condo boards and their managing agents. Read More
New Year, New Deal
We all know how it goes. All year long, you let things slide a little here and there–an extra handful of chips here, putting off changing your oil there–until by the time the New Year rolls around, you’re battling ten extra pounds and your engine sounds like it’s full of dried peas. Swear all the solemn oaths you want… it’s hard to make New Year’s resolutions stick. Read More
Working with Professionals
Most co-op and condo dwellers are well aware of the responsibilities held and services provided by their building’s top-tier contractors–otherwise known as the managing agent, the accountant and the attorney. Working as a team, this group of people facilitates the more abstract aspects of running a multi-family residence; addressing board and tenant issues, balancing the books, and keeping the whole endeavor within the letter of the law. A co-op or condo is more than just a home, however. It is also a business that employs vendors and contractors, and residents can only benefit from familiarizing themselves with the independent contractors who provide their buildings with common in-house services like laundry rooms, gyms, and basement storage facilities. Read More
Do-It-Yourself Management
To self manage or not to self manage? It’s akin, in some respects, to the half-century old question of manual versus automatic transmission. Sure, the automatic is easier to drive, but the manual provides more control. And sometimes a co-op or condo board–just like a sports car driver–wants a little more control. Read More
What's the Agenda?
Board meetings provide the time and space for co-op and condo leaders to establish and direct building operations. "Every board has its own distinct group personality," observes Howard Schechter, a partner in the Manhattan law firm of Schechter Brucker, PC, "and it’s important to fit the format of the meeting to the personality of the group." For example, some boards are very effective in the most informal of settings, and can meet in someone’s apartment and make decisions over coffee and cake. Others may need a more rigid structure, such as a meeting room within the building or at management’s offices, to stay focused. "The most successful boards are those in which the members put their personal feelings aside and treat each other with respect even if they disagree," says Schechter. To make sure your meetings are on the productive side of the coin, keeping them running smoothly and efficiently, it is important that the board follow certain guidelines. Read More
The Board/Manager Team
Much has been written recently about the management industry indictments, the role of the managing agent and how to monitor management. Little has been said, however, about what it takes to make a board/manager relationship work. The managing agent and board of directors are a team working together to operate the building in the most efficient, yet highest quality manner possible. Like any team, they must rely on one another and know what the other needs and expects in order to work effectively. Read More
Large vs. Small
Peculiar as it may sound, the union of a building and management company can be likened to a marriage: the mate that suits you best might be incompatible with your friend. Likewise, a management company that works well for one building might not work for another. "Each co-op building is like a different human being," says Greg Carlson, president of Carlson Realty Inc., a co-op management and consulting firm in Queens. "Each one’s needs may be different." Read More
Come One, Come All
The holidays are behind us, and the long haul toward spring is underway. Along
with the usual springtime showers and flowers, of course, comes The Cooperator’s annual Co-op & Condo Expo. The Expo is quietly taking shape as this spring’s must-attend event for the tri-state area’s property managers, board members, and unit owners.
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Making the Grade
No matter what the job—be it flipping burgers at a chain restaurant or running a multinational investment firm—employees should be given periodic reviews of their performance to assess how they’re doing and identify both their strengths and areas where they could use improvement. Read More
The World on their Shoulders
If your planner or BlackBerry is full of to-do lists and scheduling conflicts, if you're often running up against deadlines and your cell phone rings constantly, you've got a lot in common with a New York property manager. Read More
Revenue or Reduction
Budgeting is never easy, not for a family of four and certainly not for a co-op
or condo community of hundreds or thousands of residents. That fact is made all
the more difficult by the lingering effects of the recession, which continues
to wreak havoc with our confidence as well as our overall bottom line. For many
boards, trying to balance a budget these days requires making difficult
choices. If the budget is falling short, what is the solution? Raise more
revenue by raising fees? Or reduce costs by cutting back on services and
amenities? For residents, neither option is likely to win a popularity contest.
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